Marathon Ranch

Key facts from Marathon Ranch's documents

Community type

Covenant / Planned Community

Legal name

Marathon Ranch Community Association

Developer / declarant

Maracay 91, L.L.C.

Governing law

Arizona Revised Statutes (A.R.S.) § 33-1803, 33-1807 (Sections 4.3(d) and 4.10)

Assessments & dues

Board annually determines and fixes amount of Annual Assessments; notice to Owners at least 30 days prior (Section 4.3(a))

Special assessments

May be levied in any fiscal year for capital improvements or other lawful Association purposes (Section 4.8)

Collections & liens

Assessment liens prior except taxes and first mortgages; foreclosure in manner for mortgages (Section 4.10)

Reserves & fees

Reserve Accounts maintained; Board deposits Reserve Funds; periodic reserve studies recommended but not required until 3 years after assessments begin (Section 4.3(g), 4.4)

Architectural approval

Prior written approval required for any Improvement Visible From Neighboring Property (Section 3.4(a))

Use restrictions

Single Family Residential Use defined; Dwelling Unit for residence by a Single Family (Definitions 1.33, 1.34)

Voting & meetings

Class A (one vote per lot) and Class B (three votes per lot owned by Declarant); suspension for nonpayment over 60 days (Section 3.7, 3.12)

Amendments

Section 12.8 restricts amendment of Article 12 without Declarant consent for 20 years; general amendment not specified in provided text (Section 12.8)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.